MBIA Inc. Q1 Loss Increases, misses estimates

(RTTNews) - MBIA Inc. (MBI) reported Loss for first quarter that decreased from last year but missed the Street estimates.

The company's bottom line came in at -$73 million, or -$1.48 per share. This compares with -$106 million, or -$2.16 per share, in last year's first quarter.

Excluding items, MBIA Inc. reported adjusted earnings of -$96 million or -$1.94 per share for the period.

Analysts on average had expected the company to earn -$0.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 44.4% to $40 million from $72 million last year.

MBIA Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$73 Mln. vs. -$106 Mln. last year. -EPS (Q1): -$1.48 vs. -$2.16 last year. -Analyst Estimates: -$0.52 -Revenue (Q1): $40 Mln vs. $72 Mln last year.